5 Reasons to Get a Master’s in Marketing Degree
Tuesday, November 29, 2022
Marketing is at the heart of every company. That’s because marketing is all about nurturing customer relationships. In an era where consumers want and expect relationships with the brands they love, every organization needs a marketing team that can build those connections with authenticity and transparency.
Whether you’re looking to switch jobs or advance to the next stage, a master’s in marketing can help ignite your career. Here are five reasons to consider joining a marketing graduate program:
1. Boost your earning potential
While salary is determined by many factors such as experience, industry, specialization, and location, a master’s degree can boost your earning potential from the moment you graduate.
For example, the national average starting salary for those with an undergraduate degree in marketing is $54,500. Compare that to 2022 graduates of the Carlson School’s Master of Marketing program who saw an average starting salary of $70,994. Since Carlson’s marketing master’s program only takes nine months to complete, this means graduates were able to boost their starting salary nearly 30% in less than one year.
A master’s degree can also set you up for managerial positions, which can lead to even greater earning potential down the road. The U.S. Bureau of Labor Statistics (BLS) reports marketing managers earned on average $135,440 in 2021. That’s roughly 47 percent more than marketing specialists, who earned on average $63,920 the same year.
2. Develop a competitive edge in an in-demand field
Marketing is everywhere and the field is growing. With the global marketing industry spending roughly $1.7 trillion each year, it’s no surprise that the BLS projects a 10 percent increase in marketing careers over the next decade (2021-2031).
Learning to put customers at the forefront of any company decision is critical to your success as a marketing expert. A marketing master’s program will help you gain this foundational skill and others, such as marketing strategy and creative problem-solving.
At the Carlson School, we understand the importance of applying knowledge in addition to learning it. That’s why besides diving deep into topics such as marketing analytics, digital marketing, and customer experience, you’ll also have the opportunity to walk real clients through the entire marketing planning process. With skills-based hiring on the rise, adding these projects to your resume will showcase your skills and help you stand out from the crowd.
3. Future-proof your career
From branding and social media marketing to market research and marketing analytics, you can find something to fit your creative and/or analytical interests in this multidisciplinary and dynamic field. With so many specializations to choose from, a master’s in marketing program will help you explore and focus your interests. At the same time, you’ll be developing a large marketing toolbox so you can pursue jobs across industries.
Finally, dare to be bold with your career ambitions. A study by SpencerStuart found that 18 percent of Fortune 500 CEOs had a marketing background. Because at the end of the day, marketers are experts of customer needs and relations. What organization can do without that?
4. Build your network
Let’s face it: Searching for a job and planning your career trajectory can be scary and overwhelming. In a master’s program, you’ll have a built-in community of professors, peers, and alumni who can help you through it all. Whether you’re interested in learning more about email marketing for nonprofits or need a reference to do content marketing for a financial technology firm, you can reach your goals with an expansive and supportive network.
At the Carlson School, through our Business Career Center you’ll also have a dedicated career coach to help you navigate your career during the program and long after you graduate. Receive guidance on interview prep, goal identification, negotiation, connecting with your target roles and companies, and so much more at any stage of your career for the rest of your life. And with 57,000+ alumni from around the world, there is no shortage of opportunities to grow your professional network and take steps toward your dreams.
5. Earn an advanced degree more quickly
A master’s in marketing is a specialized, advanced degree that allows you to dive deep into the world of marketing so you can become an expert within 12 to 15 months. This is a much faster pathway to becoming a marketing professional than many comparable graduate business degree programs. Some master’s in marketing programs, like the Carlson School’s, also do not require prior work experience. This means you can earn an advanced degree and boost your earning potential right out of undergrad or much earlier in your career.
Are you ready to consider a Master of Marketing? Learn more about how the Carlson School’s Master of Marketing program can provide you with the skills and support your need to become a marketing professional in just nine months--faster than most other marketing master’s programs.